Asio Capital LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,040 shares of the company’s stock after acquiring an additional 788 shares during the period. Asio Capital LLC’s holdings in PepsiCo were worth $3,836,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in PEP. Clear Investment Research LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $25,000. Freedom Wealth Alliance LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $29,000. Red Tortoise LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $30,000. Legend Financial Advisors Inc. raised its stake in shares of PepsiCo by 125.7% in the 4th quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock worth $30,000 after buying an additional 93 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of PepsiCo by 604.0% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 176 shares of the company’s stock worth $32,000 after buying an additional 151 shares in the last quarter. Institutional investors own 75.46% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on PepsiCo from $175.00 to $178.00 in a report on Wednesday, April 26th. JPMorgan Chase & Co. lifted their target price on PepsiCo from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. Morgan Stanley lifted their target price on PepsiCo from $200.00 to $210.00 in a report on Tuesday, April 25th. Barclays lifted their target price on PepsiCo from $201.00 to $206.00 in a report on Thursday, April 27th. Finally, Wells Fargo & Company upped their price target on PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.25.
PepsiCo Stock Performance
PepsiCo (NASDAQ:PEP – Free Report) last released its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $17.85 billion during the quarter, compared to the consensus estimate of $17.27 billion. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 EPS. As a group, equities research analysts forecast that PepsiCo, Inc. will post 7.29 earnings per share for the current fiscal year.
PepsiCo Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 2nd were paid a dividend of $1.265 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $5.06 annualized dividend and a yield of 2.76%. PepsiCo’s dividend payout ratio is presently 106.53%.
PepsiCo Company Profile
PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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